News
Xchanging's Market Wordings Database Hits 10000
08 May 2002
London, UK - May 2002 - Xchanging Ins-sure services, has announced a significant milestone for its Market Wordings Database (MWD). The exclusive database of the most commonly used wordings, clauses and policy forms in the London market has now reached 10000 insuring documents.
This important achievement was announced at the official London market launch of MWD's latest innovation, Associated Documents, which provides access to vital supporting information as well as cross-referencing.
John Benjamin, managing director Xchanging Ins-sure Services, says, "MWD has reached an important landmark in its organic growth, and is set to augment its database substantially over the next year as the London market increasingly uses its facilities for secure storage of both public and private documentation"
The MWD is a dynamic database and is continually growing to keep pace with changes in insurance documentation. In addition to the English content, it also contains wordings, clauses etc. in a number of European languages. English translations are included for each European language document and a special coding system ensures that the users can match the versions accurately.
MWD provides access to its content via versatile search facilities, and can be used for both reference and for the production of insuring documentation at all stages in the business cycle. The service aims to provide regularly updated information and also includes access to a customer help-line and a monthly electronic newsletter. As well as the provision of standard public documentation, MWD gives a facility for the loading of any private wordings, clauses etc. with rights of access set by the owner. Many MWD customers use this option to cut administration costs by providing access to their wordings for regular business contacts.